16 Jan 2009

SEC Final Rule — Modernization of Oil and Gas Reporting

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On December 31, 2008 the Securities and Exchange Commission (the “SEC”) issued a final rule revising disclosure requirements relating to oil and gas reserves (the “Final Rule”). The Final Rule reflects the SEC’s consideration of comments received from stakeholders in response to the proposed rule issued by the SEC on June 27, 2008 (the “Proposed Rule”). The amendments are intended to modernize and update the oil and gas disclosure requirements, to align them with current industry practices and to adapt to changes in technology.

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